Sloan, NY Cost of Living

Sloan cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Here we can see a simple outline of the cost of living in Sloan, NY. As you can see, with the average cost of living in Sloan, NY being 84, that puts it 29% lower than the average of New York and 16% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Sloan, NY, the price of goods and services are 10% lower than the average of New York as well as 2% lower than the nation's average.

Compare Sloan, NY Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is meant to help you compare your salary in Sloan, NY to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Sloan, NY, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Sloan, NY salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$47,292

$3,941

$1,103

$1,419

Renters

$26,993

$2,249

$630

$810

The affordability of the housing market in Sloan, NY as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Sloan, NY homeowners, the median income is $47,292. This indicates that a monthly maximum of $1,103 should be spent by homeowners on all housing related costs. Renters have a median income of $26,993. This indicates that renters should have a maximum of $630 used for their rent related monthly costs.

New York Sales Tax

State

General Sales Tax

With Max Surtax

New York

4%

8.875%

New York Income Tax

State

Income Tax (Low)

Income Tax (High)

New York

4%

8.82%

For those who live in Sloan, NY and want to know what the true cost of living is, they ought to look at both the New York income tax rate and the New York sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In New York, the sales tax is 4%, while the most you'll pay in surtax is 8.875%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in New York, the income tax rate ranges between 4% to 8.82%.

Goods & Services

Item

Sloan

National avg.

Difference

Haircut

$15.88

$16.09

1.3%

Beauty Salon

$37.27

$37.33

0.2%

Toothpaste

$1.68

$2.45

31.5%

Shampoo

$0.89

$1.00

11.4%

Movie

$10.92

$10.28

6.2%

Bowling

$3.71

$4.93

24.8%

Groceries

Item

Sloan

National avg.

Difference

Ground Beef

$3.36

$3.80

11.7%

Fried Chicken

$1.23

$1.40

11.9%

Milk

$1.95

$2.01

2.9%

Potatoes

$2.87

$3.01

4.6%

Pizza

$10.66

$9.89

7.8%

Beer

$8.86

$8.90

0.5%

Health Care

Item

Sloan

National avg.

Difference

Optometrist

$60.23

$102.16

41.0%

Doctor

$86.67

$108.36

20.0%

Dentist

$78.97

$92.53

14.6%

Ibuprofen

$8.50

$9.28

8.4%

Lipitor

$418.39

$425.82

1.7%

Housing

Item

Sloan

National avg.

Difference

Home Price

$75,700.00

$184,700.00

59.0%

Avg. Mortgage Payment

$1,359.27

$1,202.44

13.0%

Apartment Rent

$640.00

$949.00

32.6%

Transportation

Item

Sloan

National avg.

Difference

Gasoline

$2.36

$2.24

4.9%

Tire Balancing

$45.30

$46.29

2.1%

Utilities

Item

Sloan

National avg.

Difference

All Electricity

$151.54

$165.96

8.7%

Phone

$37.33

$28.68

30.1%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.